Median home prices for Santa Cruz County were higher in October than they’ve been for the past 5-years. The median sales price for a single-family home was $649,000, compared to $500,000 a year a go and $470,000 in 2011. However officials say extremely low inventory is holding sales back. As of the first week of November, there were 648 listings, down from 683 a year ago, and the fewest listings for October in 13 years. Local real estate agents believe the decline is due to potential home buyers getting tired of needing to make multiple offers.
